School’s in as old Wantirna Heights Primary site hits the market

A former primary school site is about to deliver an eight-figure windfall to the state government in an upcoming sale to developers.

The Wantirna Heights Primary School at 56 Kingloch Pde, Wantirna closed in 2013 and its buildings were demolished.

The land is owned by the Department of Education and Training, with the school deemed surplus to needs and the land subsequently rezoned for residential development.

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The vacant 1.25ha allotment has drawn foreign and local buyer interest ahead of its sale by tender.

There had been an “influx of interest for the versatile property”, with price hopes above $10.5 million, Colliers International director Hamish Burgess says.

The site is in the middle of a built-up residential area.

The block is in a built-up residential area and is considered a rare in-fill site in the suburb.

It is described as “high profile” and suited for high-density residential development or for education and aged-care purposes.

If it meets the government’s price expectations, it would be the biggest sale of a General Residential Zone 1 property in the suburb.

A 1.01ha site at 321 Wantirna Rd, Wantirna, with similar residential zoning status, fetched $9.7 million in 2015, sales records show.

“To acquire a high-profile site in a highly sought-after area such as Wantirna is a rare opportunity,” Burgess says.

“Not only is this a considerable landholding in excess of 1.25ha, it is also subject to favourable zoning and planning overlays.”

Wantirna College is among several schools close by.

The block is close to shopping centres, popular schools and hospitals, as well as EastLink and transport.

It comes with dual street frontages totalling 222m. The tender for the block closes May 1.

A nearby three-block listing of 7612sqm at 4-5 Nizam Court and 3 Ashwood Close has price hopes above $7.5 million.

Offers from foreign and local developers were submitted for the properties, which had been collected by a single owner over a 35-year period.

That site is also suited for development of townhouses or an aged-care complex.

This article from Leader Newspapers originally appeared as “Old primary school site to reap millions in Wantirna”.